Simple interest
- If a man receives on one-fourth of his capital 3% interest, on two third 5% and on the remainder 11%, the percentage he receives on the whole is
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According to question , we have
Required percent = 1 × 3 + 2 × 5 + 1 - 1 - 2 × 11 4 3 4 3
Correct Option: B
According to question , we have
Required percent = 1 × 3 + 2 × 5 + 1 - 1 - 2 × 11 4 3 4 3 Required percent = 3 + 10 + 11 = 9 + 40 + 11 = 5% 4 3 12 12
- Arun lends ₹ 20,000 to two of his friends. He gives ₹ 12,000 to the first at 8% p.a. simple interest. Arun wants to make a profit of 10% on the whole. The simple interest rate at which he should lend the remaining sum of money to the second friend is
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We know that ,
∴ SI = P × R × T 100
According to question ,S.I. on 12000 = 12000 × 8 × 1 = ₹ 960 100
Desired gain on ₹ 20000
= 20000 × (10 ÷ 100) = ₹ 2000
∴ S.I. on ₹ 8000 = 2000 – 960 = ₹ 1040
Correct Option: D
We know that ,
∴ SI = P × R × T 100
According to question ,S.I. on 12000 = 12000 × 8 × 1 = ₹ 960 100
Desired gain on ₹ 20000
= 20000 × (10 ÷ 100) = ₹ 2000
∴ S.I. on ₹ 8000 = 2000 – 960 = ₹ 1040∴ Rate = SI × 100 Principal × Time Rate = 1040 × 100 800
Rate = 13% per annum
- A person lends 40% of his sum of money at 15% per annum, 50% of rest at 10% per annum and the rest at 18% per annum rate of interest. What would be the annual rate of interest, if the interest is calculated on the whole sum ?
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Let the person have ₹ 100.
ThenSI for 1 year = ₹ 40 × 15 × 1 + 30 × 10 × 1 + 30 × 18 × 1 100 100 100
Correct Option: C
Let the person have ₹ 100.
ThenSI for 1 year = ₹ 40 × 15 × 1 + 30 × 10 × 1 + 30 × 18 × 1 100 100 100
SI for 1 year = ₹ (6 + 3 + 5.4) = ₹ 14.4
∴ Rate of interest on whole sum = 14.4%
- The effective annual rate of interest, corresponding to a nominal rate of 6% per annum payable half yearly, is :
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Let the sum be ₹ 100.
For initial six months,Simple Interest = 100 × 6 × 6 = 3% 100 12
Now, sum = 100 + 3 = ₹ 103
For another six months,
Correct Option: D
Let the sum be ₹ 100.
For initial six months,Simple Interest = 100 × 6 × 6 = 3% 100 12
Now, sum = 100 + 3 = ₹ 103
For another six months,Simple Interest = 103 × 6 × 6 = 3.09 100 12
∴ Rate of interest per annum = 3 + 3.09 = 6.09%
- A sum of ₹ 1000 is lent out partly at 8% and the remaining at 10% per annum. If the yearly income on the average is 9.2%, the two parts respectively are
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Let p be lent on 8%.
∴ (1000 – p ) is lent on 10%.
Simple Interest = 9.2% of 1000 = ₹ 92SI = P × R × T 100 ∴ 92 = p × 8 + (1000 - p) × 10 100 100
Correct Option: A
Let p be lent on 8%.
∴ (1000 – p ) is lent on 10%.
Simple Interest = 9.2% of 1000 = ₹ 92SI = P × R × T 100 ∴ 92 = p × 8 + (1000 - p) × 10 100 100
⇒ 8p + 10000 – 10p = 9200
⇒ – 2p = 9200 – 10000
⇒ p = 800 ÷ 2 = ₹ 400 = First part
∴ Second part = ₹ 600